Just as with any other major life change that prompts an update to your estate plan, the same is true of updating your information after getting a divorce. The financial and emotional turmoil associated with getting a divorce can make it easy to put some things on the backburner.
However, your existing estate planning documents may be carrying out wishes that you do not intend for them to accomplish without making any updates. You may need to revoke your old will and generate a new one, for example.
It can be tempting to handle putting together a simple will on your own, but given the complexities and potential mistakes of doing this, it is strongly recommended that you work direct with an estate planning attorney who can assist you with how to leave property to individuals of your choice, name a guardian to take over care of your own children, and name an executor to wrap up your estate when the time comes. Furthermore, you may need to change how you have left property in the past as you most likely had your former spouse named as the person who would receive all of your property.
The actual estate planning document themselves, however, are not the only places that need updating. Your beneficiary designations need to be changed directly with the companies managing your retirement accounts, your life insurance policies, your transfer on death brokerage accounts, and your pay on death brokerage accounts.
Finally, discuss with your estate planning attorney any existing powers of attorney and how you can update these.
